South Korea dominates the market for new LNG ships

South Korean shipyards will build new LNG vessels for USD 9 billion over the next three years, while Japan has not won a single order. The new ships are expected to grow the fleet by close to 10 percent.

Photo: Bloomberg

South Korean shipyards made a clean sweep against Japan and won all orders to build the large ships sailing with LNG for the next three years, writes Reuters.

The orders amount to more than USD 9 billion and are distributed among the three South Korean shipyards Daewoo Shipbuilding & Marine Engineering, Hyunday Heavy Industries and Samsung Heavy Industries. There are more than 50 orders, all scheduled for delivery over the next three years, shows data from the companies and tanker brokers, according to Reuters.

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